July 25, 2012 CONGRESSIONAL RECORD — HOUSE H5289 

§31.3406(g)–1 of the proposed regulations to 

clarify that, consistent with the backup 

withholding rules generally, a payment of interest described in §1.6049–8(a) is not subject 

to withholding under section 3406 if the 

payor may treat the payee as a foreign person, without regard to whether the payor reported such interest (although a payor may 

be subject to penalties if it fails to report as 

required). As under the prior regulations requiring the reporting of interest paid to Canadian nonresident alien individuals, the 

final regulations define interest subject to 

reporting to mean interest paid on deposits 

as defined under section 871(i)(2)(A) (including deposits with persons carrying on a 

banking business deposits with certain savings institutions, and certain amounts held 

by insurance companies under agreements to 

pay interest thereon). 

The Acting CHAIR. The time of the 

gentleman from Massachusetts has expired. The gentleman from Florida has 

30 seconds remaining. 

Mr. POSEY. I don’t know how many 

deadbeat taxpayers are in Venezuela or 

Cuba or Iran, but I think it’s ludicrous 

to think that we would want to put 

American investments in other countries. We’re looking at, according to 

the Mercatus Center at George Mason, 

a possible capital flight of $88 billion, 

and this is opposed to maybe, at the 

high side estimating, we’ll recover $800 

million from tax cheats, hopefully. 

That’s just not a good percentage. 

That’s not a good investment. That’s 

bad business in any sense of the word. 

I urge my colleagues to vote in favor 

of a good commonsense bill that will 

help our economy recover and help 

America stay strong. 

The Acting CHAIR. The question is 

on the amendment offered by the gentleman from Florida (Mr. POSEY). 

The question was taken; and the Acting Chair announced that the ayes appeared to have it. 

Mr. FRANK of Massachusetts. 

Madam Chair, I demand a recorded 

vote. 

The Acting CHAIR. Pursuant to 

clause 6 of rule XVIII, further proceedings on the amendment offered by 

the gentleman from Florida will be 

postponed. 

b 2200 

Mr. LANKFORD. Madam Chair, I 

move that the Committee do now rise. 

The motion was agreed to. 

Accordingly, the Committee rose; 

and the Speaker pro tempore (Mr. 

POSEY) having assumed the chair, Ms. 

HAYWORTH, Acting Chair of the Committee of the Whole House on the state 

of the Union, reported that that Committee, having had under consideration 

the bill (H.R. 4078) to provide that no 

agency may take any significant regulatory action until the unemployment 

rate is equal to or less than 6.0 percent, 

had come to no resolution thereon. 

OMISSION FROM THE CONGRESSIONAL RECORD OF TUESDAY, 

JULY 24, 2012, AT PAGE H5198 

LEAVE OF ABSENCE 

By unanimous consent, leave of absence was granted to: 

Ms. JACKSON LEE of Texas (at the request of Ms. PELOSI) for today between 

1 and 5 p.m. on account of attending a 

memorial service for her former chief 

of staff. 

Mr. REYES (at the request of Ms. 

PELOSI) for today on account of medical reasons. 

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SENATE BILL REFERRED 

A bill of the Senate of the following 

title was taken from the Speaker’s 

table and, under the rule, referred as 

follows: 

S. 710. An act to amend the solid Waste 

Disposal Act to direct the Administrator of 

the Environmental Protection Agency to establish a hazardous waste electronic manifest system, Committee on Energy and Commerce. 

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ENROLLED BILL SIGNED 

f 

LEAVE OF ABSENCE 

By unanimous consent, leave of absence was granted to: 

Mr. CULBERSON (at the request of Mr. 

CANTOR) for today after 5 p.m. on account of a personal matter. 

Ms. JACKSON LEE of Texas (at the request of Ms. PELOSI) for today after 1 

p.m. through July 26 on account of 

completing her ongoing medical treatment in Houston, Texas. 

f 

SENATE ENROLLED BILL SIGNED 

The Speaker announced his signature 

to an enrolled bill of the Senate of the 

following title: 

S. 1335. An act to amend title 49, United 

States Code, to provide rights for pilots, and 

for other purposes. 

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ADJOURNMENT 

Mr. LANKFORD. Mr. Speaker, I 

move that the House do now adjourn. 

The motion was agreed to; accordingly (at 10 o’clock and 1 minute p.m.), 

under its previous order, the House adjourned until tomorrow, Thursday, 

July 26, 2012, at 9 a.m. 

f 

EXECUTIVE COMMUNICATIONS, 

ETC. 

Under clause 2 of rule XIV, executive 

communications were taken from the 

Speaker’s table and referred as follows: 

7069. A letter from the Director, Regulatory Management Division, Environmental 

Protection Agency, transmitting the Agency’s final rule — Pasteuria spp. 

(Rotylenchulus reniformis nematode)-Pr3; 

Exemption from the Requirement of a Tolerance [EPA-HQ-OPP-2010-0805; FRL-9353-5] received July 3, 2012, pursuant to 5 U.S.C. 

801(a)(1)(A); to the Committee on Agriculture. 

7070. A letter from the Director, Regulatory Management Division, Environmental 

Protection Agency, transmitting the Agency’s final rule — Synchronizing the Expiration Dates of the Pesticide Applicator Certificate with the Underlying State or Tribal 

Certificate [EPA-HQ-OPP-2011-0049; FRL9334-4] (RIN: 2070-AJ00) received July 3, 2012, 

pursuant to 5 U.S.C. 801(a)(1)(A); to the Committee on Agriculture. 

7071. A letter from the Secretary, Department of Defense, transmitting the Department’s report on the policies and practices of 

the Navy for naming vessels of the Navy; to 

the Committee on Armed Services. 

7072. A letter from the Under Secretary, 

Department of Defense, transmitting request 

of an extension to deliver the report on the 

current and future military strategy of Iran; 

to the Committee on Armed Services. 

7073. A letter from the Principal Deputy, 

Department of Defense, transmitting a letter 

authorizing Brigadier General Richard M. 

Clark, United States Air Force, to wear the 

insignia of the grade of major general; to the 

Committee on Armed Services. 

7074. A letter from the Secretary, Department of Defense, transmitting a letter on the 

approved retirement of Lieutenant General 

Thomas J. Owen, United States Air Force, 

and his advancement on the retired list in 

the grade of lieutenant general; to the Committee on Armed Services. 

7075. A letter from the Chairman and President, Export-Import Bank, transmitting a 

report on transactions involving U.S. exports 

to the Socialist Republic of Vietnam pursuant to Section 2(b)(3) of the Export-Import 

Bank Act of 1945, as amended; to the Committee on Financial Services. 

7076. A letter from the Secretary, Securities and Exchange Commission, transmitting 

the Commission’s final rule — Extension of 

Interim Final Temporary Rule on Retail 

Foreign Exchange Transactions [Release No.: 

34-67405; File No. S7-30-11] (RIN: 3235-AL19) 

received July 21, 2012, pursuant to 5 U.S.C. 

801(a)(1)(A); to the Committee on Financial 

Services. 

7077. A letter from the Secretary, Securities and Exchange Commission, transmitting 

the Commission’s ‘‘Major’’ final rule — Further Definition of ‘‘Swap’’, ’’Security-Based 

Swap’’, and ’’Security-Based Swap Agreement’’; Mixed Swaps; Security-Based Swap 

Agreement Recordingkeeping [Release No.: 

33-9338; 34-67453; File No. S7-16-11] (RIN: 3235- 

AK65) received July 20, 2012, pursuant to 5 

U.S.C. 801(a)(1)(A); to the Committee on Financial Services. 

7078. A letter from the Secretary, Securities and Exchange Commission, transmitting 

the Commission’s ‘‘Major’’ final rule — Consolidated Audit Trail [Release No.: 34-67457; 

File No. S7-11-10] (RIN: 3235-AK51) received 

July 20, 2012, pursuant to 5 U.S.C. 

801(a)(1)(A); to the Committee on Financial 

Services. 

7079. A letter from the Director, Regulatory Management Division, Environmental 

Protection Agency, transmitting the Agency’s final rule — Approval and Promulgation 

of Air Quality Implementation Plans; Pennsylvania; Regional Haze State Implementation Plan [EPA-R03-OAR-2010-0002; FRL-9695- 

5] received July 3, 2012, pursuant to 5 U.S.C. 

801(a)(1)(A); to the Committee on Energy and 

Commerce. 

7080. A letter from the Director, Regulatory Management Division, Environmental 

Protection Agency, transmitting the Agency’s final rule — Approval and Promulgation 

of Air Quality Implementation Plans; Illinois; Regional Haze [EPA-R05-OAR-2011-0598; 

FRL-9683-6] received July 3, 2012, pursuant to 


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